Luckily, I took the day off and so far have seen a tremendous response on the blog and a sound discussion on the matter. While I still have a few concerns of my own, I am taking into account the current standing of the market, our RL investments, and projections. My goal in the next 30-60 days, as stated during a recent interview with the Outlander Bank Guide, was to liquidate most of our RL investments and USD holdings to bring them back into game reinvest in the market that we do business in. With the discussions so far, option 3 is pretty much ruled out with everything leaning to option 1. Sustainability.
The error from last month's report was a typo on my part. Thank you all for your ideas and insight. I ask questions so that I do not appear biased. That is not to say that everyone else's idea is correct but it is the opportunity to see what other people think. In the end, I will still come to a conclusion but asking questions gives me more things to consider.Please continue to post to the blog in this ongoing discussion.
The October financial report for LLBT can be found at http://www.slcapex.com/forums/topic/LNL/465?page=3.
Wednesday, November 7, 2007
LLBT Halted Pending Shareholder Discussion
Today, I sat down to do the financial report and I personally do not like what I see. Due to the limitations in the system and the timeliness of implementation in key components, the ROI has been slow. Our products are innovative but the previous runs on other banks have caused a few of our key marketing opportunities to run sour as well. While the bank still maintains 30% liquidity and will probably go back up to 65-85% liquidity in the next 60-90 days, I am not secure that the bank will be able to maintain itself. Lowering the interest rate helped a lot but the interest gained on some of our investments has recently dropped and one of our funds in undergoing restructuring at a November 15th shareholder meeting in which we have a proxy.
As a result, I have asked that trading be halt while I discuss with shareholder what they would like to see. I am rather proactive and like to address issues before they become to far gone to be repairable. I have a few things in mind but it is ultimately up to shareholders. This is open for discussion and I would like to come to a resolution before trading is resumed. Here are my ideas.
Maintain as is and lower interest rates until profit margin increases and the banking industry of SL solidifies itself a bit more. Personally, this could be a band-aid and I believe the U.S. economy is about to face a recession which will affect our RL investments. I could be jumping the gun a bit with all of this but I am just not seeing the profit margin I projected.
Sell LLBT to another bank. L&L Corporation will maintain all software and rights with the understanding that the bank could possibly reopen in the future without the issue it had previous and be in a better position than the months of waiting we went through to get where we are now. This would mean customers would go through the process of conversion to another banking system and shareholders paid a final dividend on the sale.
Merge LLBT with LLRS. LLRS just had a record quarter with profits (minus the 800k spent on sims on the last day of the quarter) and does well in SL and just launched in There and will launch in Red Light Center in the next 90 days. LLRS has a budgeted dividend of .10/share through Q4 and typically does better. The land sales would be the backbone for the bank as well as profits made in other metaverses. LLBT shareholders would get 3/1 share conversion to LLRS and would trade on WSE with founder and alt shares being retired. LLBT customers would not see any change on the operation end as LLBT would run as a division of LLRS.
I am posting this notice in my blog for discussion at http://lindsaydruart.blogspot.com so please check things there to give insight on what you would like to see as a shareholder. I am also interested in the opinions of non-shareholders as long as they are volatile and noteworthy. Keep in mind, the bank is NO WHERE NEAR bankrupt. I simply don’t want a potential problem to turn into closed ATMs and scandals. I prefer to act while I still can than wait something out. I pride myself on dealing with sure things and right now, I am not sure so I am listening to shareholders, customers, and members of the market. I can have all the logic in the world but more brains on the same thought works best.
Had LLBT started under different circumstances and gotten a fair run, I would not feel the way I do now because I would have had more control over operations from the beginning. Nevertheless, this are running smooth but they could have been much better. Feel free to post on the blog and as we come to a conclusion, trading will be resumed at that time. Thank you for your support.
As a result, I have asked that trading be halt while I discuss with shareholder what they would like to see. I am rather proactive and like to address issues before they become to far gone to be repairable. I have a few things in mind but it is ultimately up to shareholders. This is open for discussion and I would like to come to a resolution before trading is resumed. Here are my ideas.
Maintain as is and lower interest rates until profit margin increases and the banking industry of SL solidifies itself a bit more. Personally, this could be a band-aid and I believe the U.S. economy is about to face a recession which will affect our RL investments. I could be jumping the gun a bit with all of this but I am just not seeing the profit margin I projected.
Sell LLBT to another bank. L&L Corporation will maintain all software and rights with the understanding that the bank could possibly reopen in the future without the issue it had previous and be in a better position than the months of waiting we went through to get where we are now. This would mean customers would go through the process of conversion to another banking system and shareholders paid a final dividend on the sale.
Merge LLBT with LLRS. LLRS just had a record quarter with profits (minus the 800k spent on sims on the last day of the quarter) and does well in SL and just launched in There and will launch in Red Light Center in the next 90 days. LLRS has a budgeted dividend of .10/share through Q4 and typically does better. The land sales would be the backbone for the bank as well as profits made in other metaverses. LLBT shareholders would get 3/1 share conversion to LLRS and would trade on WSE with founder and alt shares being retired. LLBT customers would not see any change on the operation end as LLBT would run as a division of LLRS.
I am posting this notice in my blog for discussion at http://lindsaydruart.blogspot.com so please check things there to give insight on what you would like to see as a shareholder. I am also interested in the opinions of non-shareholders as long as they are volatile and noteworthy. Keep in mind, the bank is NO WHERE NEAR bankrupt. I simply don’t want a potential problem to turn into closed ATMs and scandals. I prefer to act while I still can than wait something out. I pride myself on dealing with sure things and right now, I am not sure so I am listening to shareholders, customers, and members of the market. I can have all the logic in the world but more brains on the same thought works best.
Had LLBT started under different circumstances and gotten a fair run, I would not feel the way I do now because I would have had more control over operations from the beginning. Nevertheless, this are running smooth but they could have been much better. Feel free to post on the blog and as we come to a conclusion, trading will be resumed at that time. Thank you for your support.
L&L Rentals and Sales Q3 Financial Report
01 Aug 2007 to 31 Oct 2007
Report Posted: November 07, 2007
Period From: August 01, 2007
Period To: October 31, 2007
Covering: 91 days
Revenue: L$1934670.00
Expenditure: L$2141000.00
Earnings: L$-206330.00
CAPEX: L$0.00
Land Owned: 393216.0 sqm.
Land Value: L$13.00/sqm.
Buildings Value: L$0.00
Equipment Value: L$0.00
Inventory Value: L$0.00
Cash on Hand: L$1686571.00
Investments: L$0.00
Debtors: L$0.00
Liabilities: L$320000.00
Q3 of this fiscal year marked the end of the summer slump and we have seen tremendous growth during the end of the fiscal year. Our August revenue was low but manageable and we saw a 215% increase from the revenue in August to what we made in October with the sale of one of our Commerce City sim. We still own the sim but we make considerable profit from the resident that owns most of it. Despite having a bit more land open that we wanted, the tier we make on three islands always covered the fourth with profit to spare.
Our expenditures were high this quarter as we purchased Dark City: Obsidian City and Hostel on October 31st so we do not have ROI to report on that purchase for Q3. Approximately L$1,000,000 was spent on the purchase and build out of the sims.Our current liabilities are nothing more than tier as well have eliminated a great deal of staff putting the focus back into the business rather than babysitting adults. Since SelesteMxx Maxsted has taken over the CEO role of the company, we have seen a tremendous increase in customer sales and a decrease in customer complaints as she is very thorough and personable with the customers. Her time in world also allows her to be around more and assist customers.
October showed a hike in sales bringing us to our highest dividend to date at L$375,000. Q4 is looking very promising as we are build out the Port continent, introduce the orientation island, capture the RPG market, and branch into other metaverses. I expect Q4 to be our best quarter yet as we are starting to see the ability to expand while maintaining costs.
Today, we will post dividends and the secondary will start soon at $2/share with 1/4 share of any unsold shares going to the current shareholders that purchases secondary shares after the halt. The secondary will only run for 15 days. We feel that is sufficient enough time to determine the market. Keep in mind, only unsold shares will be distributed to the current shareholders. If we find that we sell out within the 15 days, we will look at an alternative for current shareholders as I will download the list at the halt.
Report Posted: November 07, 2007
Period From: August 01, 2007
Period To: October 31, 2007
Covering: 91 days
Revenue: L$1934670.00
Expenditure: L$2141000.00
Earnings: L$-206330.00
CAPEX: L$0.00
Land Owned: 393216.0 sqm.
Land Value: L$13.00/sqm.
Buildings Value: L$0.00
Equipment Value: L$0.00
Inventory Value: L$0.00
Cash on Hand: L$1686571.00
Investments: L$0.00
Debtors: L$0.00
Liabilities: L$320000.00
Q3 of this fiscal year marked the end of the summer slump and we have seen tremendous growth during the end of the fiscal year. Our August revenue was low but manageable and we saw a 215% increase from the revenue in August to what we made in October with the sale of one of our Commerce City sim. We still own the sim but we make considerable profit from the resident that owns most of it. Despite having a bit more land open that we wanted, the tier we make on three islands always covered the fourth with profit to spare.
Our expenditures were high this quarter as we purchased Dark City: Obsidian City and Hostel on October 31st so we do not have ROI to report on that purchase for Q3. Approximately L$1,000,000 was spent on the purchase and build out of the sims.Our current liabilities are nothing more than tier as well have eliminated a great deal of staff putting the focus back into the business rather than babysitting adults. Since SelesteMxx Maxsted has taken over the CEO role of the company, we have seen a tremendous increase in customer sales and a decrease in customer complaints as she is very thorough and personable with the customers. Her time in world also allows her to be around more and assist customers.
October showed a hike in sales bringing us to our highest dividend to date at L$375,000. Q4 is looking very promising as we are build out the Port continent, introduce the orientation island, capture the RPG market, and branch into other metaverses. I expect Q4 to be our best quarter yet as we are starting to see the ability to expand while maintaining costs.
Today, we will post dividends and the secondary will start soon at $2/share with 1/4 share of any unsold shares going to the current shareholders that purchases secondary shares after the halt. The secondary will only run for 15 days. We feel that is sufficient enough time to determine the market. Keep in mind, only unsold shares will be distributed to the current shareholders. If we find that we sell out within the 15 days, we will look at an alternative for current shareholders as I will download the list at the halt.
Subscribe to:
Posts (Atom)